12072016Wed
Last update: Wed, 07 Dec 2016 05pm

Asia

Markets - Commodities - Asia

Palm falls on USDA soy forecast, but recovery seen in later trade KUALA LUMPUR: Malaysian palm oil futures declined in early trade on Thursday after the US Department of Agriculture raised its forecast of its 2016/17 soybean yield, but traders said palm could recover later in the day on lower-than-expected rise in stocks.Higher yield and production of soybean, palm's rival oilseed, would increase supply and lower prices, making it a more attractive option for edible oil consumers.Benchmark palm oil futures for January on the Bursa Malaysia Derivatives Exchange fell 1 percent to 2,816 ringgit ($663) a tonne at the midday break. Traded volumes stood at 10,986 lots of 25 tonnes each."The market is down on the news from the US Department of Agriculture," said a futures trader from Kuala Lumpur.Another trader said the stocks figures from the Malaysian Palm Oil Board (MPOB) however could lift the market in its afternoon session, as it was lower than expectations.Malaysia's palm oil stocks at end-October ...

Markets - Commodities - Asia

Malaysia's end-Oct palm stocks rise as exports decline, imports build KUALA LUMPUR: Palm oil stockpiles in Malaysia at the end of October registered a marginal rise as exports dipped from a month ago and as imports increased.Rising inventories could dampen benchmark palm oil prices , which rose to the highest in over two-and-a-half years on Tuesday. Palm future were down 1 percent at 2,816 ringgit ($663) per tonne at the midday break on Thursday.Stockpiles in Malaysia, the world's second-largest palm oil producer after Indonesia, rose ...

Markets - Commodities - Asia

LME copper jumps 4pc to 16-month high on US infrastructure hopes MELBOURNE: London copper jumped 4 percent to its highest in nearly 16 months on Thursday on expectations that policies under US President-elect Donald Trump could spur infrastructure spending.Shanghai copper, aluminium and nickel also surged limit-up as London copper gained and as Trump's policies could require China to keep easy monetary policies in place.In London, all major contracts except for tin rose to highs not seen since at least mid-2015 after recently finding their feet on ...

Markets - Commodities - Asia

Bangladesh tea prices dip at auction amid ample supplies  DHAKA: Tea prices in Bangladesh fell about 1.8 percent at the weekly auction on Tuesday as the volumes on offer rose to the highest so far this season, but strong demand for good quality leaf capped a steeper decline.Bangladesh tea fetched an average of 195.94 taka ($2.50) per kg at the auction, down from 199.49 taka in the previous sale.The offerings in this sale were the largest so far this season which met with much ...

Markets - Commodities - Asia

Corn, soybeans drop over 1pc as Trump leads White House race SINGAPORE: Chicago corn and soybeans slid more than 1 percent on Wednesday while wheat lost ground, as trends in the US presidential election indicated a surprise victory for Republican Donald Trump.The Chicago Board of Trade most-active corn contract was down 1.6 percent at $3.48-3/4 a bushel by 0611 GMT, while soybeans gave up 1.3 percent to $9.98-1/4 a bushel.Wheat lost 1 percent to $4.11 a bushel."Markets are all down across the board with focus on ...

Markets - Commodities - Asia

Gold rally strongest since Brexit as Trump leads White House race BENGALURU/MANILA: Gold jumped nearly 5 percent on Wednesday to its strongest in six weeks as investors sought safe havens after Republican Donald Trump moved to the brink of winning the White House, setting world markets on edge.It marked gold's biggest single-day gain since June 24 when it rose as much as 8 percent when Britain decided to leave the European Union. It closed up 4.8 percent that day.A Trump win, which many expect could lead ...

Markets - Commodities - Asia

Copper eases as Trump close to surprise White House win SINGAPORE: Copper edged lower on Wednesday, easing from last session's one-year peak as trends in U.S. presidential election showed surprise victory for Republican candidate Donald Trump.Expectations of strong demand from top consumer China kept a floor under the market.Three-month copper on the London Metal Exchange was down 0.3 percent at $5,218 a tonne as of 0703 GMT, after declining more than 2 percent earlier in the session.On Tuesday, the metal hit its highest since October ...